CALGARY, ALBERTA--(Marketwired - Feb. 2, 2017) -
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Jaguar Resources Inc. ("Jaguar" or the "Company") (TSX VENTURE:JRI) has completed a pre closing of 215,000 common shares at $1.20 per common share The company will be closing on $34 million of common with an overallotment (the "Financing"). The Financing consists of $34.0 million (the "Financing"). The Financing consists of 18,333,333 Common Shares, and 9,138,257 Common Shares to be issued as "flow-through shares" pursuant to the Income Tax Act (Canada) as previously press released and maybe applying to the TSXV for an increase in the placement. The funds will be used to development oil and gas prospects in the Western Canadian Sedimentary Basin of Alberta. A portion of the funding will also be used for general corporate purposes.
Jaguar has also incorporated four wholly owned subsidiaries called "Jaguar Energy LLC." in Delaware, Texas and California and "Jaguar Energy Inc." in the Grand Cayman as the corporation is evaluating additional opportunities outside of Canada for acquisitions and future production growth.
Jaguar's business strategy is to seek to provide shareholders with growth by exploring the existing assets in Saskatchewan, Bannock Creek. Jaguar is also pursuing industry farm in drilling opportunities both within Canada and Worldwide. As part of its corporate strategy of acquiring additional assets, the Company is in the process of evaluating several potential transactions which individually or together could be material. The Company cannot predict whether any current or future potential opportunities will result in one or more transactions involving the Company. The Company may issue equity or utilize debt facilities to finance all or a portion of any such potential acquisitions and or drilling programs on its Saskatchewan lands and future Alberta land holdings.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. More particularly and without limitation, this news release contains forward-looking statements and information relating to the resumption of trading of the Company's common shares on the Exchange. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company, including, without limitation, the Company having adequate financial resources to satisfy all the requirements of the Exchange related to resumption of trading. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to continue operations without adequate capital, the Company's ability to raise further capital, the Company's ability to efficiently and successful explore and develop its properties, availability of drilling rigs, failure to interpret geological and geophysical information accurately, and the likelihood of those or any geological structures containing hydrocarbons. Accordingly, readers should not place undue reliance on the forward - looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the TSXV. The forward-looking statements or information contained in this news release is expressly qualified by this cautionary statement.